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Iowa State University's $93 million share in a company donated eight months ago to the university's foundation is now worth about $52 million more than previously estimated.

ISU Foundation officials announced Thursday that a gift reported in January will result in a new permanent endowment of about $145 million that will generate more than $5 million annually to support the ISU College of Liberal Arts and Sciences.

"The new endowment will more than triple the amount of scholarship dollars awarded by the college, boost our ability to provide Iowa State students with the opportunity to learn from superb faculty and accelerate innovation in teaching and research," Beate Schmittmann, dean of the college, said in a university news release.

In January, ISU Foundation officials they were receiving an estimated $93 million majority stake in the Massachusetts-based education company, Curriculum Associates. Once the company was sold, they said at the time, the resulting proceeds would be used by the College of Liberal Arts and Sciences.

It was the foundation's first such donation of a majority stake in a company. At the time, officials expected that the equity interest will be sold through a management-led sale of the company.

Since then, Curriculum Associates has entered into a capital partnership with Berkshire Partners, a Boston-based investment firm, according to a university news release. The transaction is pending federal approval.

Citing the donors' request for confidentiality, ISU Foundation officials have declined Thursday to identify the donor couple — other than to say they are ISU alumni.

Frank Ferguson, a founding investor and former CEO of Curriculum Associates, confirmed the donation with the Cedar Rapids Gazette in January.

Revenue generated by the endowment will go to support the Greenlee School of Journalism and Mass Communication, the ISU theatre program as well as programs focused on data science and computing.

The ISU Foundation announced last year that it was undertaking a $1.1 billion fundraising campaign, "Forever True, For Iowa State," which has already raised more than $800 million.

Thursday's announcement comes the same week that ISU officials agreed to name the College of Business in honor of a $50 million commitment from donors Debbie and Jerry Ivy. The naming decision is pending approval from the Iowa Board of Regents.

Because $145 million donation is to the ISU Foundation, rather than to the university, the agreement does not require additional approval by the regents.

Reach Jeff Charis-Carlson at jcharisc@press-citizen.com or 319-887-5435. Follow him on Twitter at @JeffCharis.